Deutsche Bank’s liability management team is the experienced agent and intermediary you need to provide timely assistance with tenders, exchanges and debt restructurings. Employing a wealth of corporate action experience, we offer end-to-end support from execution to settlement, timely custom reporting and robust solutions for receiving investor instructions
Your trusted partner
Tenders, exchanges and debt restructurings require an experienced agent to act as an effective intermediary between the issuer, the dealer manager and the security holders. The time sensitivity of these types of transactions means the fast and accurate flow of information is vital.
Deutsche Bank’s liability management team provides comprehensive and innovative solutions to support any type of restructuring and liability management event in the market.
Reduce communication delays, maximise efficiency
Deutsche Bank streamlines the restructuring process, facilitating the quick and accurate flow of information and settlement of cash and securities for parties to the transaction. Minimising the number of agents involved can reduce delays in communication and maximise efficiency. Deutsche Bank provides additional services such as paying agent, trustee, settlement agent, custody, escrow, FX services and listing agent, for the issuance of new securities.
We offer exceptional service levels, streamlining the restructuring process and delivering end-to-end support from execution to settlement.
The Deutsche Bank advantage
End-to-end support: Deutsche Bank brings a wealth of corporate action experience and supports every aspect of exchange and restructuring transactions. We provide a full documentation review prior to launch, and guidance on facilitating the transaction to obtain optimal results. Offers are communicated via the relevant clearing systems and queries are responded to in a timely and efficient manner. We can also attend security holder meetings if required and provide timely and accurate progress updates. A single point of contact with dedicated email and phone line is provided for each transaction, and standard agency agreements add to efficiency.
Timely custom reporting: Our dynamic reporting is flexible enough to meet each client’s specific requirements. It includes:
- Participation reports, providing all tabulated instructions received
- Calculation reports, providing any security or cash calculations
- Summary reports, including a breakdown per security and per clearing system
- Payment reports, a breakdown of security or cash splits upon expiration of the offer
Reports are easily adaptable and can be tailored to suit each client’s needs.
Infrastructure: Deutsche Bank has developed robust solutions for receiving investor instructions, either by SWIFT or other electronic methods, via the clearing systems. Our tender and exchange platform provides straight-through processing that supports high volumes of instructions across multiple securities and markets. It automatically reconciles the flow of information and limits manual intervention.
- Consent solicitation agent
- Exchange agent
- Reverse or modified Dutch auction agent
- Settlement agent or distribution agent
- Tabulation agent
- Tender agent
Local market capabilities:
Deutsche Bank provides exchange and restructuring services across multiple clearing systems globally, including:
- International – Euroclear and Clearstream
- U.S. – DTCC
- Austria – OeKB
- France, Belgium and Netherlands – Euronext Euroclear
- Germany – Clearstream AG
- Hong Kong – CMU
- Italy – Monte Titoli
- Portugal – Interbolsa
- Singapore – CDP
- Spain – Iberclear
- Switzerland – SIS Clear